"We predict Amazon (US) will launch its own brand smartphone in 3-6 months, using the same hardware strategy as used for its e-reader and tablet. The supply chain will start stocking up materials in Q2 2014 for production."

Kuo also reiterated rumors that have been circulating for months, saying that Amazon's phone could feature six cameras. Like most smartphones, the device will supposedly use a main camera for taking photos and a front-facing camera for video chatting and snapping selfies. Amazon's handset, however, may also come with four extra cameras to enable gesture control.

"The key feature of the smartphone, we believe, will be the six cameras," Kuo reportedly said.

This is in line with a report from TechCrunch last year, which stated Amazon will launch two phones: a cheaper model and a flagship edition that will use multiple cameras to create 3D images and enable eye tracking.

Kuo added that Amazon may integrate its own services with the device, such as its e-commerce platform, to make it stand out from the competition.

We'll have to wait for official word from Amazon to know for sure, but a recent report from The Information also suggested the online retail giant could release a smartphone within months.